OKX Ventures announces investment in Bitcoin-native application and smart contract platform Arch Network

2024-05-10 09:56:27

Collection

ChainCatcher news, OKX Ventures announced an investment in the Bitcoin-native application and smart contract platform Arch Network.

OKX Ventures founder Dora stated, "We are excited to invest in Arch Network, a Bitcoin-native application platform that draws inspiration from SVM (Solana Virtual Machine), utilizing parallelization and integrated zero-knowledge proof (ZK Proof) technology to facilitate dynamic, Turing-complete smart contracts on Bitcoin. This novel approach greatly enhances user experience and the trust assumptions of Bitcoin users, achieving a smooth, frictionless experience while maintaining a trustless relationship with dApps and protocols."

It is reported that Arch is the first Bitcoin-native application platform—offering cross-chain-free DeFi on the world's largest blockchain. The Arch Network is a parallelized proof-of-stake network that uses zk-proofs to enhance Bitcoin's native programmability. The network consists of a Rust-based zkVM (called ArchVM) and a decentralized validation network. These components together form a trustless execution environment directly on the Bitcoin blockchain, enabling a bridge-free transaction experience.

Related tags

OKX Ventures Arch Network

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.